Forex Trading Library

USD/JPY – 11.06.2024

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USDJPY is moving on track with our expectation since last week towards the target of 158.00, as the market printed a high of 157.38.
As we see on the Intraday chart, prices are facing a first support level around 156.40.
Below 156.40, the first sign of weakness will be found which could push for a further drop, with the second support laying at the trend around 155.40, which in turn could give a chance for rebound.
Below 155.40, price could head for another drop toward the 152.50-153.00 zone


LEVEL1 156.40 158.00
LEVEL2 155.40 160.00
LEVEL3 154.50 162.00

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